Learn how to become better at strategy with online college courses from top universities and institutions.
What Is Business Strategy?
To maintain a competitive advantage over your competition, you must have a clear plan for your business. Decision making at the business level involves looking at data for past performance, predictive trends, and creating and measuring benchmarks for success each step of the way. A solid understanding of strategic planning is vital to this process. Excellent strategic management is what sets apart businesses with consistent growth and those who can't find their footing. If you've developed a cohesive plan, you've set up the foundations for your company's success.
Why Learn Strategy
You don't magically make the correct business decisions right out of the gate. It takes a lot of experience and training to learn the components of developing a business plan. Generic strategies take you so far, but once your company shows forward momentum, you must have a variety of tools for creating a competitive strategy that sustains growth.
Strategy Courses and Certifications
Business strategy starts with a foundational education. EdX.org has partnered with some of the leading business institutions to bring you aspects of planning that cover both the basics and specific aspects of running a business. For example, not all companies benefit from the same strategies. If your organization is family run, The University of British Columbia can help you form action plans for sustaining your business into the future. You'll understand the power of good strategy and how the right set of business objectives can leverage family dynamics for a company you can leave to future generations. If your company is an international enterprise, The University of Maryland College Park offers differentiation strategies for standing out in a competitive world. You'll understand how the aspects of your enterprise, from the value chain to the management team to the competition, work together to grow the organization over time. Understand cultural factors and develop core business values that build a high-quality enterprise. Individual aspects of business also require strategic management. Digital transformation is a must for businesses of the future, and you can learn how to do that safely and effectively with KTH Royal Institute of Technology. You can also learn about Marketing Strategy with Curtin or Berkeley so that you can build a marketing plan with less waste. You may also be able to transform your business's presence on social media with Boston University's Platform Strategy for Business. Social media is a new market, especially for brick and mortar businesses who weren't built in the digital age, and BU could help you leverage a high-level market position online that's effective and launches growth.
Understand the Value of Strategy
Strategic planning is a way to maintain your company's market value, develop realistic goals, and stay relevant in a larger world of competition. Focus on building your company's mission and values while developing the right benchmarks and you're on your want to helping with sustainable growth and having a business model that will carry on for future generations.